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B2B Business Information Systems Employee Benefits Human Resources Productivity Tools SaaS Small and Medium Businesses Software Western Europe

Factorial Closes a Series B Funding Round with $80 Million

– Factorial, a Barcelona-based HR software company that streamlines people management, has closed an $80m Series B funding round led by Tiger Global Management, with participation from previous investors CRV, Creandum, Point Nine, K Fund, and Columbia Lake Partners bringing the total funding amount to $100m.
– Factorial, which serves thousands of clients in more than 65 countries, has been ranked among the Top 10 most promising startups in Europe. With the new funds, Factorial will expand to new markets, opening offices in the USA and Brazil.

Analytics Employee Benefits Health Care Hospital North America

Covera Health Raises $25M in Series C Financing to Fuel Growth of Its Healthcare Quality Analytics Platform

– Covera Health announced its Series C financing.
– The $25m funding was led by global venture capital and private equity firm Insight Partners with participation from existing investors including Equity Group Investments.
– The round enables Covera to not only meet the growing demand for its healthcare quality insights, but also significantly expand its suite of innovative products supporting physicians and payers in their efforts to improve patient outcomes.
– Covera is solving one of the most impactful and challenging problems in healthcare today: ensuring patients get the right diagnosis at the right time, which gives them the best chance of a successful health outcome.

Employee Benefits Financial Services North America Real Time Software

Pave Secures Series B Valued at $400M and Releases Free, Real-Time Compensation Benchmarking

– Pave announced $46m Series B funding led by the YC Continuity Fund and welcomed Ali Rowghani to its board.
– The round also includes participation from existing investors Andreessen Horowitz, Bessemer Venture Partners and others.
– Pave integrates directly with customers’ HR and equity systems so that customers have access to real-time compensation data and never have to use spreadsheets for compensation surveys, merit cycles, or total rewards statements again.

Employee Benefits North America Scheduling Task Management Virtual Workforce

WorkJam, a digital workplace for frontline workers, raises $35M

– WorkJam has raised $35m in a round of funding from Silver Lake Waterman.
– The company serves as a communication conduit that allows headquarters to liaise with those working out in the field, from health care professionals and manufacturing personnel to grocery delivery drivers and anyone not tethered to a physical desk.

Employee Benefits Financial Services FinTech North America Retirement Wealth Management

Human Interest raises $200M at a $1B valuation, plans for an IPO

– SMB 401(k) provider Human Interest raised $200m in a round of funding.
– The round was led by Rise Fund and joined by SoftBank Vision Fund 2.
– The financing included participation from new investor Crosslink Capital and existing backers.
– The company has now raised a total of $336.7m since its 2015 inception.
– It plans to IPO in 2023.

Employee Benefits Health Care Medical mHealth North America Wellness

Quit Genius Raises $64M in Series B Funding

– Quit Genius, a NYC-based digital clinic for treating multiple addictions, raised $64M in Series B funding round.
– The round was co-led by Kinnevik and Atomico, with participation from Series A investors Octopus Ventures, Triple Point Ventures and Startup Health.
– The company will use the funds to fuel expansion of its platform in the U.S..

Australia and Oceania Employee Benefits Employment Finance Human Resources Management Information Systems SaaS

Employment Hero gets $140M AUD Series E led by Insight Partners, grows valuation to $800M AUD

– Employment Hero, an automated human resources, payroll and benefits platform for SMEs, raised $140m funding.
– The round was led by Insight Partners, the venture capital firm known for its ScaleUp program to help tech companies accelerate their growth.
– The company is now expanding into Southeast Asian and Western European markets.
– It has a valuation of $800m.
– The company is used by 6,000 businesses, with a total of 250,000 employees.

Employee Benefits Financial Services FinTech Human Resources North America Payments SaaS

Gig Wage Raises Additional $3.25M in Venture Debt

– Gig Wage provides a FinTech payroll platform which enables employers to instantly pay 1099 workers while offering independent contractors an efficient way to receive payments.
– The company has raised $16.45m to-date from Green Dot Corporation (NYSE: GDOT), Silicon Valley Bank, Foundry Group, Continental Investors, Techstars, Revolution’s Rise of the Rest Seed Fund and more.
– Gig Wage also announced the addition of Clarisa Lindenmeyer as Chief of Staff to the CEO and Chief Brand Officer.

Employee Benefits Fitness Human Resources Latin America Wellness

Gympass Pulls In $220M Funding Round

– Gympass, the largest corporate wellbeing platform, today announced the new investment round of $220M.
– The new investment made by Softbank, General Atlantic, Moore Strategic Ventures, Kaszek and Valor Capital Group.
– As people flock back to the gym, Gympass has seen its valuation more than double to $2.2B, reflecting the increased importance of wellbeing for companies.

Employee Benefits Health Care North America Parenting Wellness

Stork Club Raises $30M to Respond to Unprecedented Employer Demand for Inclusive Benefits and to Hold Employees’ Hands as they Build Healthy Families

– Stork Club announced it raised $30M in Series A funding led by General Catalyst, with Hemant Taneja joining the board.
– Existing investors Bowery Capital, Slow Ventures and angels Jack Altman, founder of Lattice; Zach Sims, founder of Codecademy; Oleg Rogynskyy, founder of; and Kevin Mahaffey, founder of Lookout also joined the round.
– Stork Club is also announcing several new customers from a variety of industries, including Ropes & Gray, Crescent Capital, Corgan, Fors Marsh Group and Inception.
– Stork Club is the first to extend traditional employee benefits to include historically overlooked, yet critical components of maternal health: diagnostics, egg and sperm freezing, IVF, surrogacy, adoption, pregnancy guidance and postpartum recovery support.

Employee Benefits Health Care Information Services Information Technology North America

Lyra Health Raises $200M in Funding

– Lyra Health is a provider of comprehensive mental health care benefits for multinational companies.
– The company raised $200m in funding.
– The round was led by Coatue joined by new investor Sands Capital, along with existing investors.
– The new investment will be used to accelerate the delivery of its benefits for companies with employees located around the world and enhance its international solutions.

Employee Benefits Financial Services Southeast Asia

Wagely, an Indonesian earned wage access and financial services platform, raises $5.6M

– Indonesian EWA startup wagely raised $5.6m in strategic funding.
– The round was led by Integra Partners.
– Other investors included the Asian Development Bank (ADB) Ventures, PT Triputra Investindo Arya, Global Founders Capital, Trihill Capital, 1982 Ventures and Willy Swandi Dharma.
– The company plans to increase its sales team in order to close more enterprise deals.

Career Planning EdTech Education Employee Benefits North America

Guild Education valued at $3.75 billion with newest round

– Guild Education, a lifelong learning platform, raised $150m in Series E funding.
– The round was led by Bessemer Venture Partners, Cowboy Ventures, D1, Emerson Collective, General Catalyst, GSV, Harrison Metal, ICONIQ, Redpoint and Salesforce Ventures.
– The company plans to grow its coaching team, expand its learning marketplaces with more short-term certificate opportunities and double down on its outreach with historically Black colleges and universities.

Artificial Intelligence B2C Employee Benefits Health Insurance North America Software

Nayya Raises $37M in Series B Funding

– Nayya, a NYC-based insurance benefits experience and healthcare management platform, raised $37M in Series B financing.
– The round was co-led by SVB Capital and ICONIQ Growth and brought total funding to just under $50M.
– The company intends to use the funds to grow the size of its team and invest in new features for its core offerings.

Angel Investment Employee Benefits Financial Services FinTech Western Europe

Cushon Raises £26M in Funding

– Cushon, a UK-based fintech pension and savings provider, closed an overall funding round of £26m.
– The £6m equity raise was led by Augmentum Fintech. A further £20m in credit facility has been committed from AshGrove Capital, a pan-European specialty lending firm.
– The company intends to use the funds to finance rapid expansion and product development plans, following its acquisition of another master trust pension scheme.

Employee Benefits Health Care Health Insurance Human Resources Insurance South Asia

Plum Raises $15.6M in Series A Funding

– Plum, a Bengaluru, India-based group health insurance startup, raised $15.6m in Series A funding.
– The round was led by Tiger Global with participation from Sequoia Capital India’s Surge, Tanglin Venture Partners, Incubate Fund and Gemba Capital, as well as Kunal Shah (founder, Cred), Gaurav Munjal, Roman Saini and Hemesh Singh (founders of Unacademy), Lalit Keshre, Harsh Jain and Ishan Bansal (founders of Groww), Ramakant Sharma & Anuj Srivastava (founders of Livspace), and Douglas Feirstein (founder of Hired).
– The company intends to use the funds to further scale engineering, business development and operations teams.

Australia and Oceania Employee Benefits Employment Human Resources

Australian startup Pyn raises $8M seed to bring targeted communication in-house

– Pyn, an early-stage startup based in Australia, raised $8m in seed funding.
– The round was led by Andreessen Horowitz with help from Accel and Ryan Sanders (the co-founder of BambooHR) and Scott Farquhar (co-founder and co-CEO at Atlassian).
– The startup provides a library of customizable communications materials to help build culture and set policy across an organization.

Cloud Data Services Corporate Training Employee Benefits Financial Services FinTech Gift Human Resources North America Payments

Zeta Raises $250M From SoftBank Vision Fund 2 for Its Omni Stack for Banks

– Zeta, a banking tech startup, announced that it has secured $250m in investment from SoftBank Vision Fund 2.
– This Series C investment values Zeta at $1.45b.
– This is one of the largest single investments in a banking tech startup globally.
– Zeta provides the only fully modern platform for banks that can be deployed in parallel for new programs and new customers without uprooting legacy technology.
– Banks across the globe have increased income, improved customer engagement and reduced fraud by leveraging Zeta’s Omni Stack.

Employee Benefits Financial Services FinTech North America

DailyPay Raises $500 Million Of Capital, Powering Its Mission To Transform The Financial System

– DailyPay secured $500m of capital.
– The company is announcing a $175m Series D equity round led by Carrick Capital Partners with participation from existing investors.
– In addition, the company is announcing it has raised $325m of credit capital from various sources.
– The company intends to invest its newly raised capital in new market opportunities for its technology platform, in addition to extending its market leadership position in on-demand pay among the largest employers in the world.
– The company welcomes new investor Carrick Capital Partners.

B2B Employee Benefits Enterprise Software Health Care mHealth Training Western Europe

Unmind Closes $47M in Series B Funding

– Unmind is a London, UK and NYC-based workplace mental health platform.
– Company raised $47m in Series B funding.
– The round was led by EQT Ventures with participation from Sapphire Ventures, as well as existing investors Project A, Felix Capital, and True Ventures.
– The new investment will be used to accelerate the company’s international growth, continue to develop content, features, and integrations, and increase headcount to 200 people by the end of 2021.

Consulting Employee Benefits Insurance North America

Navacord Completes C$1.05 Billion Financing

– Navacord Corp. completed a C$1.05 billion financing.
– The transaction provides Navacord with increased capacity to continue pursuing M&A transactions and other strategic growth initiatives.
– Navacord plans to use the proceeds to fund near-term M&A opportunities and other strategic growth activities and return capital to its employee shareholders.
– Navacord is focused on building the Great Canadian Brokerage, and this transaction positions us well to execute that plan over the coming years.
– Navacord employees and funds affiliated with MDP are both significant shareholders in Navacord.

Employee Benefits Europe Finance Financial Services FinTech

Salary Finance Secures $150 Million from Community Investment Management to Help Working Americans Move From Debt to Savings

– Salary Finance announced a new round of funding today from Community Investment Management (CIM).
– The investment of $150 million over the next three years will be used to help fund low-cost loans for working Americans struggling with financial stress.
– Working with progressive employers who empathize with the financial stresses facing their employees, Salary Finance is committed to getting millions of Americans out of debt and into savings and helping those communities that so desperately need financial assistance.
– CIM is an institutional impact investment firm that provides strategic debt funding to demonstrate and scale responsible innovation in lending to underserved communities.
– Founded in 2014, the firm’s mission is to advance financial inclusion, promote economic development and drive widespread adoption of such responsible innovation by the financial mainstream.

Employee Benefits Europe Information Technology Payments SaaS Small and Medium Businesses Software

PayFit raises $107 million for its payroll and HR platform

– French startup PayFit has raised a $107m series D funding round.
– The round was led by Eurazeo Growth and Bpifrance’s Large Venture fund.
– Existing investors Accel, Frst and Xavier Niel are participating once again.
– PayFit has been building a payroll and HR software-as-a-service platform.
– It lets you manage your payroll from a web browser and automate as many steps as possible.
– For instance, you can configure to automate payslip generation, export your payroll data to your accounting software and get a list of payments you need to make when it comes to pensions, health insurance, etc.
– Given that it’s a software-as-a-service platform, everything remains up to date.

Employee Benefits North America Retirement

Spark Advisors Raises $3.6M in Funding

– Spark Advisors from NYC provides a technology-enabled brokerage to help independent agents deliver a concierge service for navigating retirement benefits.
– The company raised $3.6m in funding.
– The round was led by Primary Ventures with participation from Vine Ventures and Torch Capital.
– The new funding will be aimed at recruiting hundreds of new agents and expanding the company’s consumer roadmap into more health and personal finance support areas while adding to its suite of agent tools.

BurnAlong Raises $7M
BurnAlong Raises $7M

Unicorn Nest news

Employee Benefits Fitness Health Care North America Personal Health Wellness

BurnAlong Raises $7M

– BurnAlong announced a $7m fundraise led by Triventures.
– The round included participation from BurnAlong’s existing investors, including CR2 Ventures, TriSib, DM Wellness, Macks Managed Investments, Steve Altschuler (Co-Founder and Former Chair of Spark Therapeutics, and Former President and CEO of CHOP) and Sean Glass (Founder and CEO of Advantia Health).
BurnAlong is an online health, wellness, and fitness platform that works with leading employers, insurers, municipalities, non-profits, and health systems who provide BurnAlong for their employees, members, and patients.

Employee Benefits Financial Services FinTech North America

Minu, the Largest Pay On Demand Player in Latin America, Raises $14 Million to Cement Financial Wellness in the Mexican Workforce

– Minu, an employee financial wellness company, today announced that it has raised $14 million in Series A funding.
– The round was led by FinTech Collective, with participation from VEF, XYZ Ventures, and FJ Labs, as well as DocuSign founder Tom Gonser and Gusto CFO Mike Dinsdale. Existing investors QED Investors, Next Billion Ventures, and Village Global also participated.
– The round includes $2.5 million of debt from Banco Sabadell Mexico. To date, Minu has raised a total of $20 million.

Banking Employee Benefits Employment Human Resources Mobile Payments Oceania Personal Finance SaaS Software

Australia-based Employment Hero raises $45M AUD for its global expansion

– Employment Hero, a human resources platform, raised $45m in Series D funding.
– The round was led by SEEK, with participation from OneVentures and AirTreeVentures, and new investor Salesforce Ventures.
– The company plans to use the funding to expand into new markets including Southeast Asia.

Employee Benefits Health Care Medical Device North America Personal Health

Preventative Wellness Startup Reperio Health Nets $6 Million in Seed Funding to Expand Proactive Health Monitoring

– Reperio Health™ announced its seed capital raise of $6 million, supporting plans to accelerate growth and expand proactive health monitoring to the employer market.
– The company is poised to take health engagement and patient empowerment to the next level.
– The company is making it easy by bringing health screenings right to peoples’ door.
– The FDA-approved sensors in the Reperio kit include a blood test to measure levels of total cholesterol, HDL, LDL, triglycerides and glucose, in addition to tests for blood pressure, resting heart rate, Body Mass Index (BMI) and Relative Fat Mass (RFM).
– Reperio’s patent-pending at-home health assessment enables employees and private individuals to perform a broad range of screenings at their convenience while in the comfort of their own home.

Employee Benefits Human Resources North America

Lifestyle benefits startup Fringe gets a pandemic boost, raises seed round

– Fringe is a startup that offers companies a personalized marketplace of perks that people really want.
– The company raised $10m in Series A funding.
– The round was led by FirstMark Capital and joined by existing investors, including Cowboy Ventures, and new investors, including RRE Ventures, and others.
– The company plans to use the funding to expand its platform and grow its team.

Employee Benefits Insurance North America Property Insurance

Patriot Growth Insurance Services Raises Additional Capital to Support Continued Growth

– Patriot Growth Insurance Services, LLC (“Patriot” or the “Company”), one of the country’s largest and fastest-growing national insurance agencies, today announced that it has closed on a new round of financing in support of its aggressive acquisition and organic growth strategy.
– The additional capital raised represents a significant expansion of Patriot’s existing debt facility.
– The raise is co-led by existing lenders Barings Global Private Finance and Antares Capital LP, and also includes new participant Morgan Stanley Private Credit.
– Based in Fort Washington, PA, Patriot was founded in January 2019 by CEO Matt Gardner, a 30-year veteran of the insurance distribution industry.

Employee Benefits Health Care North America Personal Health Wellness

Eden Health Raises $60 Million Series C to Bring Collaborative Care Mainstream

– Eden Health announced an $80m Series C funding round to bring total investment in the company to $100m.
– The round was led by growth stage investor Insight Partners with participation from Amigos Health, Aspect Ventures, Company Ventures, Flare Capital, Flexcap Ventures, Max Ventures and PJC.
– The new capital will be used to extend its lead as the most advanced Integrated Virtual Care platform, expand its brick-and-mortar medical office footprint to several new major U.S. metropolitan areas, and build new features that allow for integrations of third-party healthcare services.

Employee Benefits Financial Services FinTech North America Retirement Wealth Management

Human Interest Receives $105M Series C

– Human Interest, a SMB 401(k) provider that makes it easy for small and medium-sized businesses to help their employees save for retirement, has completed a $105m Series C investment round.
– The round was led by Glynn Capital, an existing investor, with participation by new investor NewView Capital.
– The additional financing brings the round to $105M and Human Interest’s total funding to $136.7M.

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